Mortgage Market Guide's recap of what happened this week and why.
October is historically turbulent for the markets and this past week proved it to be true again. In response to the rise of COVID-19 cases in Europe, a safe haven trade into the U.S. dollar and Treasury securities caused yields to move in a wide 10 basis point range as we head into the weekend. Mortgage Bond prices did not participate in the rally.
Retail Sales was amazing and we expect a robust holiday shopping season.
A stimulus package is coming and it may not be great for Bonds because it:
increases inflation fears and
helps the economy.
Next week there is a boatload of supply coming. Be on guard.
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